{"id":15108,"date":"2021-12-08T17:54:04","date_gmt":"2021-12-08T17:54:04","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/biden-administration-unveils-plan-to-focus-on-prosecutions-of-criminal-misuses-of-cryptocurrency\/"},"modified":"2021-12-08T17:54:04","modified_gmt":"2021-12-08T17:54:04","slug":"biden-administration-unveils-plan-to-focus-on-prosecutions-of-criminal-misuses-of-cryptocurrency","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/biden-administration-unveils-plan-to-focus-on-prosecutions-of-criminal-misuses-of-cryptocurrency\/","title":{"rendered":"Biden Administration Unveils Plan to Focus on \u2018Prosecutions of Criminal Misuses of Cryptocurrency\u2019"},"content":{"rendered":"

The Biden-Harris administration has unveiled its strategy on \u201ccountering corruption.\u201d It includes utilizing the government\u2019s newly established task force, the National Cryptocurrency Enforcement Team, to focus on \u201ccomplex investigations and prosecutions of criminal misuses of cryptocurrency.\u201d<\/strong><\/p>\n

US Crypto Enforcement Strategy for \u2018Countering Corruption\u2019<\/h2>\n

The White House announced Monday, \u201cIn line with the president\u2019s direction, the Biden-Harris administration is releasing the first-ever \u2018United States Strategy on Countering Corruption.’\u201d The 38-page report outlines the U.S. government\u2019s strategy to fight corruption globally.<\/p>\n

One of the key strategies is to \u201cenhance enforcement efforts,\u201d which includes a section on \u201ccryptocurrency and corruption.\u201d The report states:<\/p>\n

DOJ will utilize a newly established task force, the National Cryptocurrency Enforcement Team, to focus specifically on complex investigations and prosecutions of criminal misuses of cryptocurrency.<\/p>\n

The report adds that the work will focus particularly on \u201ccrimes committed by virtual currency exchanges, mixing and tumbling services, and money laundering infrastructure actors.\u201d<\/p>\n

The Department of Justice (DOJ) launched<\/a> the National Cryptocurrency Enforcement Team (NCET) in October. U.S. Deputy Attorney General Lisa Monaco said at the time that \u201cThe team will also assist in tracing and recovery of assets lost to fraud and extortion, including cryptocurrency payments to ransomware groups.\u201d<\/p>\n

In June, the Biden administration unveiled its strategy<\/a> to combat cryptocurrency ransomware. It includes \u201cExpanding cryptocurrency analysis to find and pursue criminal transactions.\u201d<\/p>\n

In November, Monaco and officials from the National Security Division and Criminal Division met with U.K. Home Secretary Priti Patel. They \u201cagreed<\/a> to heighten the focus on illicit use of cryptocurrency and ransomware, as well as to continue the dialogue about emerging threats to national security.\u201d<\/p>\n

What do you think about the U.S. government\u2019s crypto enforcement strategy to fight corruption? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nRegulation, Biden Administration, biden harris administration, biden-harris, criminal misuses of crypto, criminal use of crypto, crypto corruption, illegal use of crypto, illicit payments, illicit use of crypto<\/p>\n","protected":false},"excerpt":{"rendered":"

The Biden-Harris administration has unveiled its strategy on \u201ccountering corruption.\u201d It includes utilizing the government\u2019s newly established task force, the National Cryptocurrency Enforcement Team, to focus on \u201ccomplex investigations and prosecutions of criminal misuses of cryptocurrency.\u201d US Crypto Enforcement Strategy for \u2018Countering Corruption\u2019 The White House announced Monday, \u201cIn line with the president\u2019s direction, the…<\/p>\n","protected":false},"author":0,"featured_media":15109,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-15108","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/15108"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=15108"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/15108\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/15109"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=15108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=15108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=15108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}